Hong Kong's Anta Sports Denies Involvement in Potential Canada Goose Takeover

Hong Kong-based Anta Sports denies involvement in a potential takeover of Canada Goose, a Canadian outerwear company. Anta Sports is a leading sports apparel manufacturer, primarily selling footwear, apparel, and accessories under brands such as ANTA, FILA, DESCENTE, and KOLON SPORT. The company explores the global sporting goods market through diversified brands.

In a recent development, Hong Kong-based Anta Sports has denied involvement in potential takeover bids for Canada Goose, a Canadian outerwear company. The denial comes amid reports that Anta Sports, along with FountainVest Capital, was part of a consortium exploring a private equity deal for Canada Goose [2]. The luxury apparel maker, known for its high-end winter jackets, has been the subject of multiple bids, with private equity firms including Bain Capital and Advent International submitting offers [1].

Canada Goose, listed on both Toronto and New York exchanges, has a current market capitalization of $1.18 billion. The company has been facing financial challenges, posting a larger-than-expected quarterly loss in July due to rising costs from retail expansion and promotional campaigns. Despite these challenges, Canada Goose has benefited from exemptions under the US-Mexico-Canada trade pact [1].

Anta Sports, a leading sports apparel manufacturer, has been expanding its global presence through diversified brands such as ANTA, FILA, DESCENTE, and KOLON SPORT. The company's denial of involvement in the Canada Goose takeover comes as the luxury apparel market continues to attract significant interest from private equity firms [2].

Meanwhile, the Canadian financial markets have shown varied performance this quarter. Royal Bank of Canada reported record net income of $5.4 billion, up 21% year-over-year, boosting its shares. Canada Goose Holdings saw its U.S.-listed shares climb 14% after reports of potential takeover bids. American Eagle Outfitters launched a back-to-school campaign featuring NFL star Travis Kelce, adding almost 5% to its shares. MongoDB surged 32% with strong Q2 earnings and raised full-year guidance. Kohl's Corporation shares rose 23% after reporting Q2 results that exceeded analyst estimates [3].

References:
[1] https://pe-insights.com/canada-goose-attracts-1-4bn-take-private-offers-as-bain-explores-exit/
[2] https://www.ainvest.com/news/market-movers-royal-bank-canada-canada-goose-american-eagle-mongodb-kohl-sonoro-gold-hochschild-mining-2508/
[3] https://www.marketscreener.com/news/royal-bank-of-canada-earnings-rise-credit-loss-provision-lower-than-expected-ce7c50dedd8df723